Stock Control and Inventory Management

This course provides a range of techniques to help participants decide just that. Effective Inventory Management is critical to many organizations, including distributors, retailers, manufacturers, utilities and many public sector bodies. Practical exercises are included to demonstrate key techniques.

CONTENTS

• The role and cost of inventory

• Buffering uncertainty

• Inventory classification techniques

• Demand pattern analysis

• Calculating stock levels

• Safety stock and order quantities

• Handling variability

• Analysis and reporting

• Implementing a control process

• The organizational role of stores and inventory management in supporting efficient and effective operations

• The scope and purpose of stores management and inventory control

• Identifying patterns of demand and product groups within an inventory

• Analyzing data to set inventory control parameters

• Using computer systems to manage and control inventory levels and warehouse operations

• Measuring supplier service levels in stores and inventory operations

• Basic forecasting processes

FOR WHOM:

Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.